An Interindustry Analysis of the Relationship Between Marx and Keynes
Miyazawa’s Input-Output Analysis and the Structure of Income Distribution (1976) draws upon two main economic traditions. In the first place it represents a development of Keynesian multiplier analysis. The aggregate relationship that Keynes (1936) specified between income and final demand is expanded to include interactions between different industrial sectors and income groups. Secondly, its focus on the distribution of income can be placed in the Marxian tradition. Miyazawa develops a multiplier framework in which a clear distinction is made between the expenditure patterns of workers and capitalists.
KeywordsCapitalist Consumption Final Demand Labor Time Effective Demand Labor Theory
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